United Capital Financial Advisors LLC Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

United Capital Financial Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,438 shares of the pharmaceutical company’s stock, valued at approximately $6,178,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Equitable Holdings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $1,451,000. Centaurus Financial Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $1,366,000. Jefferies Financial Group Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $11,501,000. Public Employees Retirement System of Ohio acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $48,713,000. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $4,232,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $547.55 on Friday. The firm has a 50 day simple moving average of $500.28 and a 200-day simple moving average of $468.15. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $555.69. The firm has a market cap of $138.97 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.38 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm posted $4.52 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 4,062 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the sale, the chief marketing officer directly owned 16,953 shares in the company, valued at approximately $7,628,850. This trade represents a 19.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock valued at $4,959,397 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on VRTX shares. Royal Bank Of Canada lifted their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. TD Cowen lifted their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Barclays boosted their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $563.50.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.